• 5 minutes Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 8 minutes China Faces Economic Collapse
  • 12 minutes Oil Production Growth In U.S. Grinds To A Halt
  • 14 minutes Iran in the world market
  • 17 minutes Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 1 hour Experts review drone damage . Say Saudis need to do a lot of explaining.
  • 9 hours USA Wants Iran War -- Shooty Shooty More
  • 5 mins Saudis Confirm a Cruise Missile from Iranian Origin
  • 14 hours Yawn... Parliament Poised to Force Brexit Delay Until Jan. 31
  • 14 hours Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 10 hours The Spy Money: U.S. Wants To Seize All Money Edward Snowden Makes From New Book
  • 3 hours Aramco Production
  • 16 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 7 hours Trump Will Win In 2020 And Beyond..?
  • 8 hours The Belt & Road Initiative: A Wolf in Sheep's Clothing?
Alt Text

Trade War Optimism Halts Oil Price Slump

Financial markets have received a…

Alt Text

A Fracking Ban Will Never Happen

Democratic candidates are ramping up…

Oil & Gas 360

Oil & Gas 360

From our headquarters in Denver, Colorado, Oil & Gas 360® writes in-depth daily coverage of the North American and global oil and gas industry for…

More Info

Premium Content

Statoil Aims To Develop Argentinian Shale

Agreement with YPF marks Statoil’s entry into Argentina

Statoil (ticker: STO) and YPF announced today an agreement to explore hydrocarbons in the Vaca Muerta shale. This represents Statoil’s entry into Argentina.

Under the terms of the agreement, Statoil will enter the Bajo del Toro license block with a 50 percent interest. YPF will retain a 50 percent share and will remain the operator. Statoil will recognize YPF’s past costs incurred in the block and will fund 100 percent of the cost of certain activities in the future.

Bajo del Toro represents almost 39,000 acres in the Neuquén Basin in west-central Argentina. The Vaca Muerta shale in the Neuquén Basin is one of the most promising shale plays in the world. Tremendous amount of oil and gas in place and generally favorable governmental attitudes toward development have made the play very attractive. In addition, the Vaca Muerta benefits from generally cheaper acreage than most U.S. unconventionals, so it is easier for a company to acquire a sizeable position. It is one of the few international shale plays that has seen successful development, and many major players are investing money.

In June 2016, for example, ExxonMobil’s then-CEO Rex Tillerson stated that the company may spend up to $10 billion in developing the Vaca Muerta in the next few decades. According to the EIA, the formation holds over 16 billion barrels of shale oil and 308 Tcf of shale gas.



Source: Statoil

Yacimientos Petrolíferos Fiscales, YPF, is Argentina’s national oil company and has major positions in the Vaca Muerta. YPF Chairman Miguel Angel Gutierrez commented on the agreement, saying “Bringing in a new international player like Statoil into the country shows confidence in Vaca Muerta as a promising shale play and in YPF as a leading operator. We are pleased to expand the cooperation between both companies.”

By Oil and Gas 360

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play